00:00 Speaker A
Right. Well, starting on Monday, four new names will begin trading as a part of the S&P 500. Uh, couple of household names here. We’ve got DoorDash, TKO group, you might know them UFC and other holdings there. William Sonoma, uh, expand energy, also entering the index and Jay, I think the action that we see around stocks, usually on the announcement of the inclusion, rather than inclusion itself, uh, is one of my favorite kind of oddities really, in inside of financial markets.
00:22 Jay
And there’s always anticipation. Are we going to get it this time? And I know Coinbase, you know, they were the the one left outside the dance this time. And the stock was down as a result of it. But uh, those four will be going in at the end of the day. Uh, that makes for exciting times down on the floor, as a former floor trader for two decades. Uh, those closes can be a little crazy. We have expiration today as well. So, uh, the last hour of today, last 30 minutes, especially, watch the volumes increase dramatically, and maybe, just maybe, we can rally a little bit into this weekend. Maybe the shorts are looking to cover because of uncertainty, and we get a little bit of a rally into this.
00:50 Speaker A
So those, um, those ac it’s triple witching today, right? So we’ve got uh, those those experies coming up. Um, I was always curious, it seemed to me, not being on the floor, that you would get sticky action around like just round numbers, where you’ve got a lot of options expiring, a lot of people looking at these things. Is that how as you approach these closes on the floor, you know, you could see like, all right, we are eyeing this level, and it’s going to be kind, it’s going to be a battle ground to see is this expiring worthless, or we actually going to hit.
01:13 Jay
Yeah, and people have those targeted goals in mind, and they usually are around round numbers. So yes, uh, look at those stocks that are trading a nickel to a penny, and does it close down to the figure? 95 to 99, will we get that rally? Uh, yeah, but you don’t put too much credence into it. You’re just focused on the overall trends of things. Those four stocks, a little more attention will be paid to that, but overall, no, uh, with the zero data expiry options now, you just, you kind of ignore the option activity that may be driving uh, the actual close of the stock. Yeah.
01:54 Speaker A
I know we we could do another hour on the on the zero dated options.
01:58 Jay
We could. Yeah, I mean there’s so many different things we could do. We haven’t even we didn’t even talk about recession and uh, the NBER who declares recession, and what that means, and you know, that that’s another show, but uh, so many things Yeah.
02:11 Speaker A
No, there’s I was looking for a pallet cleanser on the recession talk. So it’s good we have a technician in here, we can talk about some stocks, talk some shop, talk about the S&P 500 inclusion forcing buyers into those names, and we’ll see how they open on Monday. Uh, Jay, really appreciate the time. Thanks for stopping by for the hour. Uh, and enjoy the hoops.
02:24 Jay
Great to be here.